Sandy Chen owns a small specialty store, named Chen's Chattel, whose year-end is June 30. A physical inventory taken on June 30 reveals the following: Cost of merchandise on the showroom floor and in the warehouse $37,900
Goods held on consignment (consignor is National Manufacturer) 6,400
Goods that Chen's Chattel, as the consignor, has for sale at the location of the Grand Avenue Vista 4,600
Sales invoices indicate that merchandise was shipped on June 29, terms FOB shipping point, delivered at buyer's receiving dock on July 3 3,800
Sales invoices indicate that merchandise was shipped on June 25, terms FOB destination, delivered at buyer's receiving dock on July 5 3,100

For review 1. in terms of which government is sovereign, differentiate among a unitary system, a confed- eral system, and a federal system of government. 2. to which level of government does the constitution distribute the enumerated po implied powers? concurrent powers? reserved powers? provide several power. 3. what matters fall within the scope of state sovereignty? differentiate among dual federalism, cooperative federalism, centralized federalism, and conflicted federalism. how does the national government use grants-in-aid, mandates, and preemption to direct the policy of state and local governments? 6. what do we mean by intergovernmental relations? why is the term a good description of u.s. federalism today? 7. list several advantages and several disadvantages of a federal system.